Statement by Finance Minister Charles Sousa on the Initial Report from Premier's Advisory Council on Government Assets

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Statement by Finance Minister Charles Sousa on the Initial Report from Premier's Advisory Council on Government Assets

Today, Charles Sousa, Minister of Finance, released the following statement on the initial report by the Premier's Advisory Council on Government Assets:

"We are pleased to have received Retain & Gain: Making Ontario's Assets Work Better for Taxpayers and Consumers, the report from Ed Clark, the Chair of the Premier's Advisory Council on Government Assets earlier today.

As stated in our 2014 Budget, Ontario is committed to extracting more value from the Liquor Control Board of Ontario, Hydro One and Ontario Power Generation.

The council's initial recommendations suggest ways to improve customer service, increase efficiencies, and maximize the value of these government business enterprises to generate better returns for Ontarians.

The government agrees with the council's initial proposals, and is asking the council to move to the second phase of its review. During this collaborative and transparent process, the council will work with the Ministries of Finance and Energy, as well as other affected ministries, to keep the government apprised of its progress. Its activities and recommendations will help inform the province's 2015 Budget process.

Business-led decisions that optimize our assets ensure that every public dollar goes further for the people of Ontario. Additional revenues from provincial assets will be invested in new transit and transportation infrastructure, a pillar of our economic plan.

We would like to thank Mr. Clark and the members of the council for these initial recommendations and for their ongoing work on this important initiative. We look forward to receiving their final recommendations in the spring of 2015."